World Footwear


Simon Property and Brookfield are rescuing JCPenney

Sep 24, 2020 United States
Simon Property and Brookfield are rescuing JCPenney
Mall owners Simon Property and Brookfield Property Partners have entered in an agreement in principle to acquire JC Penney. The American department store chain filed for bankruptcy protection earlier in the year
According to what is being reported to CNBC and the Wall Street Journal, the deal might be valued at roughly 800 million US dollars, with Simon and Brookfield paying approximately 300 million US dollars in cash and take on 500 million US dollars in debt.

The same sources are reporting that Simon and Brookfield, J.C. Penney’s landlords, will own about 490 of the retailer’s remaining 650 stores, while the hedge funds and private-equity firms that have financed Penney’s bankruptcy might be taking the  ownership of the other 160 stores and the retailer’s distribution centres.

JCPenney filed for bankruptcy protection back in May owning, at the time, more than 800 locations.

Related Events

  • Jun
    Jun 17-Jun 19, 2024 | Salt Lake City, Utah, United States

    Outdoor Retailer

  • Jul
    Jul 9-Jul 10, 2024 | St. Paul, Minnesota, United States

    Northwest Shoe Travelers Market

  • Jul
    Jul 17-Jul 18, 2024 | New York, United States

    Lineapelle New York

  • Jul
    Jul 22-Jul 23, 2024 | Portland, United States

    Polymers in Footwear Portland

Related Organizations

  • Brooklyn Shoe Space

    Brooklyn Shoe Space

    United States
  • USRA - United Shoe Retailers

    USRA - United Shoe Retailers

    United States
  • FIT - Fashion Institute of Technology

    FIT - Fashion Institute of Technology

    United States
  • The Museum at FIT

    The Museum at FIT

    United States